Business, 11.02.2020 18:28 golderhadashaowtatz

Prepare adjusting journal entries, as needed, for the following items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. The Supplies account shows a balance of $560, but a count of supplies reveals only $280 on hand at year-end. b. The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year-end shows a balance of $540 in Prepaid Insurance. A review of insurance policies reveals that $180 of insurance is unexpired. c. Employees work Monday through Friday, and salaries of $2,800 per week are paid each Friday. The company's year-end falls on Tuesday. d. At year-end, the company received a utility bill for December's electricity usage of $250 that will be paid in early January.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 17:30

Which composition of transformations will create a pair of similar, not congruent triangles? a rotation, then a reflectiona translation, then a rotationa reflection, then a translationa rotation, then a dilationmark this and retumsave and exit

Answers: 2

Answer

Business, 21.06.2019 23:30

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

Answers: 3

Answer

Business, 22.06.2019 12:50

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?

Answers: 2

Answer

Business, 22.06.2019 21:30

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach

Answers: 3

Answer

You know the right answer?

Prepare adjusting journal entries, as needed, for the following items. (If no entry is required for...

Questions